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Shiba Inu price analysis: SHIB stabilizes at $0.00002370 after a bearish period

SHIB

TL;DR Breakdown

  • Shiba Inu price analysis is bearish today.
  • Strong resistance at $0.00003408.
  • Trading price of SHIB is $0.00002370.

Today’s Shiba Inu price analysis reveals a bearish movement in the market. However, the bulls seem to show some potential as the market fluctuates. As a result, the price of SHIB experienced a massive increase and reached $0.00002507, from $0.00002074; on February 24, 2022, SHIB/USD continued a steady trend the following day.

Today, on February 25, 2022, the price has been experiencing massive fluctuations, causing the price of SHIB to remain under the $0.00002400 mark. SHIB currently trades at $0.00002712. As a result, Shiba Inu has been up 9.21% over the previous 24 hours, with a trading volume of $2,464,224,473, ranking #14 with a live market capital of $12,995,860,041.

SHIB/USD 4-hour analysis: Latest developments

The Shiba Inu price analysis revealed the market following a bullish trend as the market volatility increases, forcing the resistance and the support to open up, making the cryptocurrency’s price will remain stable until the volatility fluctuates, as of now, it is getting more prone to volatile change of either exchange. Consequently, the upper limit of the Bollinger’s band is present at $0.00002680, which acts as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band is available at $0.00002173, which acts as the strongest support for SHIB.

The SHIB/USD price appears to be crossing over the Moving Average curve, making the market bullish. Again, the price has entered a bullish trend with potential for further positive activity. The price seems to be following a linear movement indicating a consistent market.

Shiba Inu price analysis: SHIB stabilizes at $0.00002370 after a bearish period 1
SHIB/USD 4-hour price chart source: TradingView

The Shiba Inu price analysis reveals that the Relative Strength Index (RSI) score is 43, making SHIB/USD fall in the lower-neutral region. However, the price follows a linear trend indicating a dormant market and equivalence of selling and buying activity.

Shiba Inu price analysis for 1-day: Market closes

The Shiba Inu price analysis has revealed a bearish market. Moreover, the market’s volatility appears to follow a declining trend, making Shiba Inu’s price less vulnerable to volatility fluctuations. As a result, the upper limit of the Bollinger’s band is present at $0.00003408, which serves as the strongest resistance for SHIB. Conversely, the lower limit of the Bollinger’s band exists at $0.00002256, which acts as the strongest support for SHIB.

The SHIB/USD price appears to cross under the curve of the Moving Average, signifying a bearish movement. On the other hand, the price seems to be following a downwards activity, showing signs of a declining market.

Shiba Inu price analysis: SHIB stabilizes at $0.00002370 after a bearish period 2
SHIB/USD 1-day price chart source: TradingView

The Shiba Inu price analysis reveals the Relative Strength Index (RSI) score to be 40, signifying a stable cryptocurrency. Furthermore, the RSI falls in the lower neutral region, but following a linear approach, signals stability and represents the buying activity equaling the selling activity, causing the RSI score to remain constant.

Shiba Inu Price Analysis Conclusion:

The Shiba Inu price analysis reveals the market following bearish movement, showing stable dynamics. The bears currently dominate the market but have grown tired. However, they have shown massive room for stabilization and conservation of their current movement. Bears will continue to dominate the market.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Narmin

Narmin

Narmin is a passionate fintech writer and blockchain enthusiast backed by extensive experience in psychology and statistics.

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